The European Bank for Reconstruction and Development and the Netherlands Entrepreneurial Development Finance Company, FMO, are extending an USD 80 million financing package to Borusan EnBW Enerji AS, providing a fresh boost to the renewable energy sector in Turkey. The company, a joint venture between German utility Energie Baden-Württemberg EnBW and Turkish conglomerate Borusan Holding, is a prominent renewable energy player in the country. It runs nine wind farms, two solar plants and one hydro-electrical power plant, with a total of 720 megawatts of installed capacity. Its wind portfolio is the largest in Turkey.The financing package is split equally between the two lenders under the EBRD’s A/B loan syndication structure, a financing model whereby lenders participate in an EBRD loan on market terms, with the EBRD remaining the lender of record for the entire loan amount.The long-term loan will strengthen Borusan EnBW Enerji’s balance sheet and reinforce its financial sustainability for further portfolio expansion.Borusan EnBW Enerji will also develop and implement a new accredited course for young people to acquire the skills required in the renewable energy sector. It has further committed to stepping up support for women, who remain underrepresented in the industry and Turkey’s labour market more broadly.
The European Bank for Reconstruction and Development and the Netherlands Entrepreneurial Development Finance Company, FMO, are extending an USD 80 million financing package to Borusan EnBW Enerji AS, providing a fresh boost to the renewable energy sector in Turkey. The company, a joint venture between German utility Energie Baden-Württemberg EnBW and Turkish conglomerate Borusan Holding, is a prominent renewable energy player in the country. It runs nine wind farms, two solar plants and one hydro-electrical power plant, with a total of 720 megawatts of installed capacity. Its wind portfolio is the largest in Turkey.The financing package is split equally between the two lenders under the EBRD’s A/B loan syndication structure, a financing model whereby lenders participate in an EBRD loan on market terms, with the EBRD remaining the lender of record for the entire loan amount.The long-term loan will strengthen Borusan EnBW Enerji’s balance sheet and reinforce its financial sustainability for further portfolio expansion.Borusan EnBW Enerji will also develop and implement a new accredited course for young people to acquire the skills required in the renewable energy sector. It has further committed to stepping up support for women, who remain underrepresented in the industry and Turkey’s labour market more broadly.
